SINGAPORE (Mar 4): CGS-CIMB Research is upgrading Sunningdale Tech to “hold”, from “reduce” previously, despite an expected negative impact on the precision plastic components manufacturer’s performance in 1QFY2020 ending March on the back of the novel coronavirus outbreak.

“On top of the seasonally weaker first quarter due to the Lunar New Year holidays in China, we think movement restrictions and quarantine requirements due to the Covid-19 outbreak in China lowered Sunningdale’s output at its China factories,” says analyst William Tng in a Mar 2 report.

In China, the group has manufacturing facilities in Chuzhou, Guangzhou, Shanghai, Suzhou, Tianjin and Zhongshan.

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